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Published on September 13, 2007

 "We want to be a global player and we hope that our ranking in the Fortune Global 500 over the next four years will move up significantly in the next four years, from 207th place this year," president Prasert Bunsumpun said yesterday after his tenure was on Tuesday extended until 2011.

PTT is one of a number of Thai companies aggressively accessing the international market to explore business opportunities. PTT Exploration and Production (PTTEP), its 66.46 per cent-owned subsidiary, is the group's key driver for penetrating overseas markets.

Prasert expects PTT's revenue to reach Bt1.7 trillion to Bt1.8 trillion in the next three to four years, from about Bt1.27 trillion in 2006. This is based on the assumption of 10-per-cent growth per year.

In the first half of the year, PTT posted revenue of Bt691.6 billion, up 14 per cent from the same period last year. Consolidated net profit fell to Bt48.86 billion, from Bt55.38 billion in the corresponding period a year ago.

PTT's own market capitalisation over the next four years will reach Bt1 trillion, while its subsidiaries - PTTEP, Thai Oil, PTT Chemical, Aromatics (Thailand), IRPC, Rayong Refinery and Bangchak Petroleum - will have a combined market capitalisation of Bt2 trillion, Prasert said. PTT is the stock exchange's largest market-capitalisation stock at about Bt883 billion. PTTEP ranks second with Bt412 billion.

Prasert said that preparing new-generation executives to replace the existing high-ranking executives who will retire over the next four years was another of his main tasks.

"PTT group will move in the same direction to add value to our group, and we will share our services to save operating costs and increase efficiency," he added.

Oranan Paweewun

 The Nation